Housing Loan

  • Housing Loan upto Rs.30/lacs is available for construction/purchase of old/new flat, bungalow,raw house and also for carryout addition/alteration in the existing residential house.
Applicant details:
  • Copy of last three years Income tax Return / Payslip of last 3 months.
  • If Applicant is businessman in that case last three years copies of balance sheet, income tax return of the proprietor/partner,statement of capital account.
  • If property is to be purchased under housing scheme,the copies of documents,such as share certificate,allotment-letter,saledeed,revenue records of 7/12.
  • Copy of authorised building plan.
  • Copy of receipt of advanced payment-made/copy of agreement to sale
  • Copy of title clearance certificate given by the advocate/ solicitor.
  • Consent letter from the society about noting of charge of the bank.
  • One copies of Photograph.
  • Copy of PAN Card
  • Address proof - electric bill /telephone bill (any one)
  • Photo proof - Pan card / Voter card / Driving license (Any one)
Guarantor Details
  • Photograph-2 copies
  • Last tax bill
  • Last three years income tax return copy
  • Address proof /electric bill /telephone bill (any one)
  • Photo proof /Pan card / Voter card / Driving license/Aadhar card (Any one)
Conditions
  • Original documents of property to be submitted to the bank. Registered mortgage of property to be done in favour of bank.Bank charge will be noted in society's book.
  • Valuation of the property will be required for old property. Bank will give loan of 75% of valuation amount.(for old property) and new property bank will give loan of 75%.
  • Applicant will have to take insurance of the building in favour of bank.
  • Loan amount with interest will be repaid within 180 equal monthly instalments.
  • Applicant has to submit original share certificate of the Society/Association, Municipal Tax bill, Tax receipt, sales deed etc, for registered mortgage of the property.
  • Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
  • Applicant has to take share @ 2.5% of the limit.
  • Processing charges are 0.50% of loan amount will be levied on sanction.